OCC Cites MUFG Bank Unit For Tech, Operational Risk Issues

By Katryna Perera (September 20, 2021, 9:28 PM EDT) -- The Office of the Comptroller of the Currency on Monday issued a cease-and-desist order against California-based MUFG Union Bank for unsafe or unsound practices regarding technology and operational risk management and the bank's alleged noncompliance with the Interagency Guidelines Establishing Information Security Standards.

According to the order, MUFG Union Bank, which has branches along the West Coast and is owned by Japan's MUFG Bank, has consented to the OCC's enforcement and directives without admitting to or denying the claims.

"The bank has begun corrective action and has committed resources to remediate the deficiencies," the order further states.

The directives outlined in the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!